Marks Group Wealth Management Inc Grows Stock Holdings in Veeva Systems Inc. (NYSE:VEEV)

Marks Group Wealth Management Inc increased its stake in Veeva Systems Inc. (NYSE:VEEV) by 5.9% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 1,381 shares of the technology company’s stock after buying an additional 77 shares during the quarter. Marks Group Wealth Management Inc’s holdings in Veeva Systems were worth $290,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Massachusetts Financial Services Co. MA boosted its holdings in Veeva Systems by 64.7% in the third quarter. Massachusetts Financial Services Co. MA now owns 3,545,451 shares of the technology company’s stock worth $744,084,000 after acquiring an additional 1,392,256 shares in the last quarter. State Street Corp raised its position in shares of Veeva Systems by 1.5% in the 3rd quarter. State Street Corp now owns 3,293,141 shares of the technology company’s stock worth $691,132,000 after purchasing an additional 47,872 shares during the last quarter. FMR LLC raised its position in shares of Veeva Systems by 25.7% in the 3rd quarter. FMR LLC now owns 2,981,244 shares of the technology company’s stock worth $625,674,000 after purchasing an additional 610,021 shares during the last quarter. Geode Capital Management LLC boosted its stake in Veeva Systems by 5.7% in the 3rd quarter. Geode Capital Management LLC now owns 2,765,236 shares of the technology company’s stock worth $579,630,000 after purchasing an additional 149,807 shares in the last quarter. Finally, JPMorgan Chase & Co. grew its position in Veeva Systems by 73.2% during the 3rd quarter. JPMorgan Chase & Co. now owns 2,558,592 shares of the technology company’s stock valued at $536,972,000 after purchasing an additional 1,081,501 shares during the last quarter. Institutional investors own 88.20% of the company’s stock.

Veeva Systems Stock Performance

NYSE:VEEV opened at $233.26 on Thursday. The stock has a 50-day simple moving average of $224.84 and a two-hundred day simple moving average of $215.41. The firm has a market capitalization of $37.87 billion, a PE ratio of 57.60, a P/E/G ratio of 1.97 and a beta of 0.85. Veeva Systems Inc. has a 52-week low of $170.25 and a 52-week high of $258.93.

Wall Street Analysts Forecast Growth

VEEV has been the subject of several recent analyst reports. Scotiabank lifted their target price on shares of Veeva Systems from $235.00 to $240.00 and gave the stock a “sector perform” rating in a report on Friday, December 6th. Mizuho initiated coverage on shares of Veeva Systems in a report on Wednesday, December 4th. They issued an “outperform” rating and a $275.00 price objective for the company. Citigroup increased their target price on Veeva Systems from $281.00 to $307.00 and gave the company a “buy” rating in a research note on Monday, December 9th. KeyCorp reduced their target price on Veeva Systems from $285.00 to $255.00 and set an “overweight” rating for the company in a report on Wednesday, January 8th. Finally, Piper Sandler upped their price target on Veeva Systems from $280.00 to $290.00 and gave the company an “overweight” rating in a report on Friday, December 6th. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating and seventeen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $253.96.

Insider Activity

In other Veeva Systems news, SVP Jonathan Faddis sold 1,694 shares of the firm’s stock in a transaction that occurred on Wednesday, December 4th. The shares were sold at an average price of $230.30, for a total transaction of $390,128.20. Following the sale, the senior vice president now owns 8,061 shares in the company, valued at approximately $1,856,448.30. This trade represents a 17.37 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 10.50% of the company’s stock.

Veeva Systems Company Profile

Veeva Systems Inc provides cloud-based software for the life sciences industry. It offers Veeva Commercial Cloud, a suite of software and analytics solutions, such as Veeva customer relationship management (CRM) that enable customer-facing employees at pharmaceutical and biotechnology companies; Veeva Vault PromoMats, an end-to-end content and digital asset management solution; Veeva Vault Medical that provides source of medical content across multiple channels and geographies; Veeva Crossix, an analytics platform for pharmaceutical brands; Veeva OpenData, a customer reference data solution; Veeva Link, a data application that allows link to generate real-time intelligence; and Veeva Compass includes de-identified and longitudinal patient data for the United States.